Business, 19.02.2021 16:40 cxttiemsp021

Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July:

Work-in-process inventory, July 1 (40,000 units):
Direct materials (92% completed) $122,800
Conversion (58% completed) 77,250
Balance in work in process inventory, July 1 $200,050
Units started during July 94,000
Units completed and transferred 109,600
Work-in-process inventory, July 31:
Direct materials (92% completed) 24,400
Conversion (58% completed) Cost incurred during July:
Direct materials $184,000
Conversion costs 292,000

Required:
a. Cost per equivalent unit for materials under the weighted-average method is calculated to be:
b. Cost per equivalent unit for conversion under the FIFO method is calculated to be:

Answers: 2

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Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method....